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DraftKings and FanDuel abandon dream sports merger
13 July 2017
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Fantasy sports sites DraftKings and FanDuel have deserted a plan to combine, less than a month after US competitors regulators looked for to obstruct the offer.
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The deal would have created a business with control over 90% of the marketplace for paid, daily dream sports contests, federal government said.
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The companies stated the bet9ja's welcome offer would cause higher financial investment, providing advantages for customers.
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They said they would now seek to grow independently.
FanDuel started in Scotland in 2009 and is now based in New York. It is second in the US for paid daily fantasy sports contests behind DraftKings, which started in Boston in 2012.
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Fantasy sport firm FanDuel warns of hazard from US guidelines
The two firms specialise in a subset of fantasy sports, in which fans choose gamers to create groups for single video games, instead of the season, with the potential to win money rewards based upon the outcome.
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In November, they said they had consented to combine. Terms were not revealed.
At the time, they said the deal would allow them to integrate forces on regulatory issues raised by US regulators, who had actually compared the market to illegal gambling and banned the websites in some states.
Nigel Eccles, head of FanDuel, said it made sense to move forward separately.
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"There is still enormous, untapped market chance for FanDuel, and we will continue to execute our technique to grow our service and further expand the dream sports industry," he said in a statement.
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Draft Kings chief executive Jason Robbins also said ending the merger would allow the firm to "singularly focus" on growth, including internationally.
Last year there were an approximated 57 million dream sports players in the US alone.
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DraftKings And FanDuel Abandon Fantasy Sports Merger
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